V3 Capital Management Lowers stake in SL Green Realty Corp (SLG)

SL Green Realty Corp (SLG) : V3 Capital Management reduced its stake in SL Green Realty Corp by 53.39% during the most recent quarter end. The investment management company now holds a total of 149,400 shares of SL Green Realty Corp which is valued at $16,044,066 after selling 171,100 shares in SL Green Realty Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.SL Green Realty Corp makes up approximately 4.32% of V3 Capital Management’s portfolio.

Other Hedge Funds, Including , Loomis Sayles Co L P sold out all of its stake in SLG during the most recent quarter. The investment firm sold 11,270 shares of SLG which is valued $1,210,285. Ropes Wealth Advisors sold out all of its stake in SLG during the most recent quarter. The investment firm sold 36 shares of SLG which is valued $3,664.Lord Abbett reduced its stake in SLG by selling 50,500 shares or 20.98% in the most recent quarter. The Hedge Fund company now holds 190,200 shares of SLG which is valued at $19,356,654. SL Green Realty Corp makes up approx 0.06% of Lord Abbett’s portfolio.State Of Tennessee Treasury Department boosted its stake in SLG in the latest quarter, The investment management firm added 10,781 additional shares and now holds a total of 32,989 shares of SL Green Realty Corp which is valued at $3,280,096. SL Green Realty Corp makes up approx 0.02% of State Of Tennessee Treasury Department’s portfolio. Resolution Capital Ltd sold out all of its stake in SLG during the most recent quarter. The investment firm sold 73,679 shares of SLG which is valued $7,700,929.

SL Green Realty Corp closed down -1.07 points or -1.02% at $103.42 with 7,30,218 shares getting traded on Monday. Post opening the session at $104.59, the shares hit an intraday low of $102.89 and an intraday high of $104.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, SL Green Realty Corp reported $1.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $1.50. The company had revenue of $334.61 million for the quarter, compared to analysts expectations of $355.50 million. The company’s revenue was down -8.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on SL Green Realty Corp. Shares were Reiterated by Deutsche Bank on Oct 25, 2016 to “Buy” and Lowered the Price Target to $ 126 from a previous price target of $131 .Shares were Downgraded by Stifel on Oct 24, 2016 to ” Hold” and Lowered the Price Target to $ 95 from a previous price target of $125 .

SL Green Realty Corp. is a self-managed real estate investment trust or REIT with in-house capabilities in property management acquisitions and dispositions financing development and redevelopment construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area primarily in midtown Manhattan. The Company also manages an approximately 336201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.

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